Possible turning point in the Moby and Cin-Tirrenia rescue plan. In a note, the company announces that it filed yesterday with the Court of Milan "a new Continuity Plan which provides for recovery percentages for creditors significantly higher than the previous Plan filed by Moby SpA on March 29, 2021" and that "it received the prior consent of the main financial creditors of the Group, such as the bondholders gathered in the Ad Hoc Group and by all the financial institutions ".
The two shipping companies make it known, in the same note, that they have "taken this further important step towards an ongoing industrial relaunch that follows the significant turnaround that has seen the Company overcome the difficulties associated with the pandemic and reposition itself as a market leader. and on the reference routes ".
THE HEARING - From what was reported at the end of today's hearing in which the part of Moby was first discussed and then that relating to Cin, the banks and a large part of bondholders joined the new composition proposal. Tirrenia is missing in extraordinary administration, to which a payment of 144 million secured by a mortgage with 4 ships has been proposed, equal to 80 per cent of the 180 million debt (of this amount the arbitration commission has recognized 159).
The prosecutor, who urged Tirrenia to give an opinion in about ten days to "not waste time", also considering that the affair involves about 6 thousand families of seafarers, for his part asked to extend the bankruptcy request already advanced for Cin also to Moby to trigger, in the event that the proposed arrangement is rejected, the extraordinary administration.
The deadline for the opinion of the commissioners of the bankruptcy court is 45 days before the creditors' meeting set for Moby next April 6 and for Cin 6 days later.
(Unioneonline / vl)
